News / Hyundai Merchant Marine on the verge of bankruptcy as creditors reject debt rescheduling

17/03/2016

Creditors of Hyundai Merchant Marine (HMM) today rejected a rescheduling of the troubled shipping company’s debt, pushing it to the verge of bankruptcy.

A statement released by HMM and its main creditor, state-owned Korea Development Bank (KDB), said that despite the creditors’ rejection of debt rescheduling ...

To read this article you need to subscribe.

Help us to continue to invest in award-winning independent journalism. For an introductory offer of just £70 a year, or £10 per month, get access to all our daily news stories and opinion. If you are already a registered user, please login below with your current account's email and password to subscribe. If you are not registered and want to subscribe, please register below to subscribe.

Current subscriber

New subscriber

LOGIN

Please either REGISTER or login below to continue. Forgotten your password? Please click here.

Email*
Password*

Reset Your Password

<< Go back

Email*

Comment on this article

You must be logged in to post a comment.

John
March 17, 2016 at 3:10 pm
This is really big news.
I bet shippers all over the world are cancelling their HMM bookings right now.

Log in to Reply
Former HMM employee
March 25, 2016 at 8:27 pm
I saw this coming long ago mostly brought on by bad decisions by arrogant upper management that wouldn’t listen to sound advise by subordinates. That, as well as waste and abuse by company managers, directors and above of funds through extravagant personal expenditures charged to the company.

Log in to Reply